Volume of credit investments of Georgian commercial banks increased

The volume of the Georgian commercial banks credit investments, including loans to non-residents increased by 41.0 million lari, (0.5 per cent) in November 2011. This amounted to 7.5 billion lari ($ 1 = 1, 67 lari) on December 1. Loans in local currency increased by three per cent to 69.5 million lari and decreased by 0.5 per cent, or 28.5 million lari in foreign currency for the same period.

The commercial banks issued loans to 825.6 million lari (compared to the previous month at 6.0 per cent or 46.8 million lari) in local currency and 3.4 billion lari (by 1.2 per cent, or 39.5 million lari less) in foreign currency to residents by the end of November

The largest share in legal entities' lending (48.9 per cent) fell to trade. The volume of loans granted to the trade decreased by 0.6 per cent, or 12.1 million lari compared to October and reached 2.1 billion lari.

Industrial lending accounted for 19.8 per cent of the total. The volume of industrial lending, amounted to 833.2 million lari (1.2 per cent or 10.0 million lari compared to the previous month) to December 1, 11.4 per cent fell on to the construction industry, (482.6 million lari) that is 3.2 per cent, or 15.7 lari million less. This means that 80.1 per cent of total corporate lending accounts for three sectors - trade, industry and construction.

Lending to individuals increased by 1.3 per cent or 40.6 million lari in November of 2011 which amounted to 3.1 billion lari on Dec 1.